OR Royalties (NYSE:OR) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of OR Royalties (NYSE:OR) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Royal Bank Of Canada decreased their target price on shares of OR Royalties from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Wall Street Zen lowered shares of OR Royalties from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings cut shares of OR Royalties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. Jefferies Financial Group decreased their price objective on shares of OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Finally, Scotiabank lowered their price objective on shares of OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, OR Royalties currently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

OR Royalties Stock Up 0.4%

OR stock opened at $28.86 on Monday. The business has a 50 day moving average price of $34.31 and a two-hundred day moving average price of $38.27. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 21.54 and a beta of 0.74. OR Royalties has a twelve month low of $26.86 and a twelve month high of $48.06.

OR Royalties (NYSE:OR) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. OR Royalties had a return on equity of 15.10% and a net margin of 78.09%.The firm had revenue of $102.83 million for the quarter, compared to analyst estimates of $103.27 million. On average, equities research analysts anticipate that OR Royalties will post 1.35 EPS for the current fiscal year.

OR Royalties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from OR Royalties’s previous quarterly dividend of $0.06. OR Royalties’s dividend payout ratio is 18.66%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming acquired a new stake in OR Royalties during the first quarter worth approximately $28,000. FIL Ltd bought a new stake in shares of OR Royalties during the fourth quarter worth approximately $29,000. Grove Bank & Trust acquired a new position in shares of OR Royalties in the second quarter valued at approximately $32,000. Assetmark Inc. acquired a new position in shares of OR Royalties in the fourth quarter valued at approximately $36,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of OR Royalties during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

About OR Royalties

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.